How To Make The Leap From Employee To Entrepreneur
BY: MICHAEL SANDUSO ON WEDNESDAY, JANUARY 31, 2018
Unfortunately, making the leap from employee to entrepreneur isn’t easy. Only the dedicated will survive the journey. We’re going to ensure the odds are slightly in your favor by looking at a few things you should keep in mind.
Staying In The Same Industry
Let’s say you’re the best condominium lawyer Toronto has to offer. It’s a gigantic Canadian city, so you’ll have tons of amazing contacts. Wouldn’t it be great if you could take advantage of them?
If you try to build your business in a new industry you’ll need to start from scratch. That doesn’t mean you need to keep practicing law. I’m sure there are plenty of services your lawyer friends will need.
You Should Follow Your Heart
Alternatively, you can follow your heart and build a business around something you love. There is one big advantage you can’t beat when you do this. No matter how hard things get you won’t let yourself give up.
You should remember it could take a few years to turn a new business into a success story. There will be a few bumps in the road. The only way you’ll stay on track is if you enjoy waking up every day.
Go Looking For A Great Mentor
We’ve just said it will take years to build your business, but it’s not always true. One way to speed things up is to find an excellent mentor. They’ll be able to make your transition from employee to entrepreneur smoother.
Find someone who has been working in the industry you want to tackle for a long time. They will help you avoid all the mistakes they made along the way. Listening to what they say is a shortcut to success.
Build Your Business On The Side
Even if you have a lot of money saved up it’s risky quitting your job straight away. Nowadays, you don’t even need to. The tools we have available will let you build your business at night.
Once you feel like you’ll be able to turn it into a profitable venture you can hand in your notice. If you do it this way you’ll also be able to fund your new business without touching your savings.
Copying What Is Already Working
Do you know the easiest way to validate a business idea? Steal one that is already profitable. It doesn’t mean you should use the same logo, tagline, and colors. Just copy the business model they are using.
It’s how most businesses are created because nothing is really brand new. Now you’ll only be required to do it better than everyone else. Adding your own personal twist to an idea definitely helps too.
It’s Never Too Late To Start A Business
The world needs more people like you. Hopefully, you’ll go on to hire lots of employees and help the economy. You’ll need to build a profitable business first, so follow the tips we’ve talked about today.
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